First Niles Financial (OTC:FNFPA) Stock, Quote.Headers.trade-ideas

First Niles Financial

First Niles Financial Inc is a unitary, non-diversified holding company. It conducts a general banking business in Niles, Ohio, which consists of attracting deposits from the general public and applying those funds to the origination of loans for residential, commercial, and consumer purposes. The primary sources of revenue for the company are from interest and dividend income on loans and securities along with noninterest revenue resulting from investment security gains, loan servicing, gains on the sale of loans, commitment fees, fees from financial guarantees, certain credit cards fees, and income on bank-owned life insurance.

FIRST NILES FINCL PFD A by First Niles Financial, Inc.

First Niles Financial Inc

SEC Charges Cantor Fitzgerald With Causing 2 SPACs To Make Misleading Statements
The Securities and Exchange Commission on Thursday <a href="https://www.sec.gov/newsroom/press-releases/2024-199">charged </a>&nbsp;financial services firm Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies that it controlled to make misleading statements to investors ahead of their initial public offerings.&nbsp;
The SEC's Order states that a team of Cantor Fitzgerald executives controlled two SPACs in 2020 and 2021 which raised $750 million from investors through IPOs. The SEC's order finds that Cantor Fitzgerald caused the SPACs in their SEC filings to deny having had contact or substantive discussions with potential business combination targets prior to their IPOs.&nbsp;
However, the Order finds that at the time of each SPAC's IPO, Cantor Fitzgerald personnel had already begun negotiations with a group of potential target companies for the SPACs, including with View, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VIEWQ#OTC">VIEWQ</a>) and Satellogic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATL#NASDAQ">SATL</a>), the companies with which the SPACs eventually merged.
"Cantor Fitzgerald misled investors about a critical investment consideration by repeatedly stating in public filings that it had not identified or approached any potential merger targets, despite having had substantive discussions with several private companies regarding a potential merger, including with the companies with which its SPACs eventually merged," said Sanjay Wadhwa, Acting Director of the SEC's Division of Enforcement.
The order charges Cantor with causing violations of certain antifraud and proxy provisions of the federal securities laws. Cantor Fitzgerald agreed to cease and desist from violations of the charged provisions and to pay a $6.75 million civil penalty without admitting or denying the order's findings.&nbsp;
SEC Charges Former Comtech CEO with Insider Trading
The SEC <a href="https://www.sec.gov/newsroom/press-releases/2024-195">announced</a> insider trading charges on Wednesday against Ken Peterman, the former CEO of Comtech Telecommunications Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMTL#NASDAQ">CMTL</a>), in connection with his sale of Comtech shares ahead of Comtech's forthcoming negative quarterly earnings results.
According to the SEC complaint, Peterman received a confidential presentation detailing Comtech's forthcoming negative quarterly earnings results on March 4, 2024 and informed that he was being terminated for cause eight days later.&nbsp;
The SEC's complaint alleges that just a few hours after he was terminated, and while under two different trading blackouts, Peterman placed an order to sell Comtech stock.
On March 18, 2024, Comtech reported its negative quarterly earnings, which caused its stock price to drop more than 25 percent. The complaint alleges that Peterman avoided losses by selling the shares in advance of Comtech's negative earnings announcement.&nbsp;
Peterman also allegedly directed his financial advisor to sell additional Comtech stock he held in a joint account, but the financial advisor was unable to complete the sale. Peterman allegedly would have avoided additional losses of about $110,000 had the trade been executed.&nbsp;
"There is no gray area when it comes to trading on the basis of material non-public information in breach of one's fiduciary duty. C-suite executives like the defendant, a CEO with decades of experience, know that it is illegal to use their company's confidential information for their own financial gain," said Tejal D. Shah, Associate Director of the SEC's New York Regional Office.&nbsp;
"Our action today should serve as a strong deterrent to those executives who might think about going down the same path," Shah added.&nbsp;
The complaint charges Peterman with violating Section 10(b) of the Securities Exchange Act of 1934 and seeks permanent injunctive relief, disgorgement with prejudgment interest, civil penalties and a bar preventing Peterman from serving as an officer or director of a public company.
The U.S. Attorney's Office for the Eastern District of New York also announced criminal charges against Peterman on Wednesday. 
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Image: Shutterstock

News

Legal

Insider Trades

CMTL

SATL

VIEWQ

Financial Crime Weekly: Cantor Fitzgerald Charged With Violating AntiFraud Provisions, Ex-ComTech CEO Charged With Insider Trading

President-elect Donald Trump is reportedly considering preemptive airstrikes to deter Iran from advancing its nuclear weapons program.
What Happened: Trump&#8217;s transition team is scrutinizing the option of a military strike, spurred by the latest disturbances in the Middle East. The downfall of Syria&#8217;s Bashar al-Assad regime and Israel&#8217;s obliteration of Tehran&#8217;s terror affiliates Hezbollah and Hamas have <a href="https://www.benzinga.com/news/global/24/11/41869511/iran-calls-trump-assassination-plot-claims-completely-baseless">triggered this reassessment</a>.
As per the report <a href="https://www.wsj.com/world/middle-east/trump-iran-plan-nuclear-weapons-def26f1d?mod=latest_headlines">by</a> The Wall Street Journal, Trump&#8217;s team is formulating a strategy that includes stringent economic sanctions, akin to his first term, but is also weighing military actions against Tehran.
These could encompass escalating&nbsp;military pressure in the region&nbsp;by deploying more US troops, aircraft, and naval vessels to the Middle East, and providing Israel with additional advanced weaponry.
Uzi Rabi, the head&nbsp;of the Moshe Dayan Center&nbsp;for Middle Eastern Studies at&nbsp;Tel Aviv University, is of the view that Trump has a &#8220;great opportunity&#8221; to put a stop to Iran&#8217;s nuclear aspirations and resolve the Middle East conflict. 
Also Read: <a href="https://www.benzinga.com/news/24/10/41196317/trump-urges-israel-to-target-iran-nuke-sites-hit-nuclear-first-and-worry-about-the-rest-later">Trump Urges Israel To Target Iran Nuke Sites: &#8216;Hit Nuclear First And Worry About The Rest Later&#8217;</a>
Rabi proposes that Trump could extend an olive branch to Iran by offering sanction relief in return for a halt in its military nuclear infrastructure and backing of&nbsp;terrorist proxies in the Middle&nbsp;East.
"He's a businessman, and he will tell the Iranians, ‘You have the chance, OK, to remain in power. We will relieve the sanctions, but you will stop anything with regard to the military nuclear infrastructures, and you will stop building or supporting terrorist proxies in the Middle East,&#8217;" Rabi told The New York Post.
The prospect of a direct US strike is not discounted. Trump recently indicated to Time magazine that the US could engage in a war with Iran, stating, &#8220;Anything can happen. It&#8217;s a very volatile situation.&#8221;
Why It Matters: The consideration of preemptive airstrikes signifies a potential shift in US foreign policy towards Iran. The&nbsp;recent upheavals in the Middle&nbsp;East have created a new geopolitical landscape, prompting the US to reassess its strategy. 
The possibility of a military strike against Iran could have far-reaching implications, not only for the region but also for global peace and security. The world will be closely watching how this situation unfolds in the coming weeks.
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This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image: Shutterstock

Global

Trump Considers Military Strikes Against Iran

The predictions for Wall Street&#8217;s 2025 stock market outlooks have been released, offering a range of expectations from modest gains to potential recessions. The S&amp;P 500 and Nasdaq 100 have shown remarkable growth since 2022, but the future remains uncertain.
What Happened: According to a report, the average 2025 year-end price target for the S&amp;P 500 is 6,539, suggesting a potential increase of approximately 8% from present levels. However, these predictions vary significantly.
BCA Research strategist&nbsp;Peter Berezin&nbsp;foresees a 2025 recession, resulting in a 26% drop in the S&amp;P 500. He attributes this to an expected global economic slowdown and a potential global trade war triggered&nbsp;by the incoming Trump administration.
Barry Bannister, chief equity strategist at Stifel, cautions about an impending correction of 10%-15% due to extreme stock market valuations. 
On the other hand, Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) predicts an 11% rise in corporate profits, driven by a 2.5% annualized growth in the US economy and a 5% increase in corporate revenues, reports <a href="https://markets.businessinsider.com/news/stocks/2025-stock-market-investment-outlooks-wall-street-prediction-roundup-sp500-2024-12">the </a>Market Insider. 
Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) CIO Mike Wilson encourages investors to maintain a bullish stance on stocks in 2025, citing potential interest-rate cuts from the Federal Reserve and the possibility of deregulation under the Trump administration.
Also Read: <a href="https://www.benzinga.com/general/health-care/24/11/42026158/goldman-sachs-economist-weight-loss-drugs-could-be-key-to-us-economic-growth">Goldman Sachs Economist: Weight-Loss Drugs Could Be Key To US Economic Growth</a>
JPMorgan&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has transitioned&nbsp;from bear to bull in&nbsp;its 2025 outlook, increasing&nbsp;its year-end price target to&nbsp;6,500 due to an expanding&nbsp;business cycle and continued earnings&nbsp;growth.&nbsp;UBS&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) also predicts an upward trend in the stock market in 2025, setting&nbsp;a 6,600 price target for&nbsp;the S&amp;P 500.
However,&nbsp;Ned Davis Research&nbsp;cautions of potential threats to the bull market later in the year, while&nbsp;Bank of America&nbsp;strategist&nbsp;Savita Subramanian&nbsp;expects more subdued gains spread across sectors.
Despite the varied predictions, Wall Street remains cautiously optimistic about the stock market&#8217;s prospects in 2025.
Here's an in-depth look at Wall Street's outlook for the stock market in the year ahead, according to the Insider. 
<h4 class="wp-block-heading">S&amp;P 500 price targets, Projected level for end-of-year 2025:</h4>
Oppenheimer 7,100
Wells Fargo 7,007
Deutsche Bank 7,000
Yardeni Research 7,000
DataTrek Research 6,840
Societe Generale 6,750
BMO 6,700
Bank of America 6,666
Fundstrat 6,600
Barclays 6,600
RBC 6,600
Ned Davis Research 6,600
CFRA 6,585
Morgan Stanley 6,500
Goldman Sachs 6,500
JPMorgan 6,500
Citi 6,500
UBS 6,400
Stifel 5,500
BCA Research 4,450
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Markets

Stock Market Predictions for 2025: A Mixed Bag Of Expectations

South Korean lawmakers have voted to impeach President Yoon Suk Yeol following his controversial attempt to impose martial law, a move that triggered widespread protests across the country.
The impeachment motion passed after an unexpected twist, with several members of Yoon's own People Power Party (PPP) siding with the opposition, per a news <a target="_blank" href="https://www.bbc.com/news/articles/c140xjv31lxo" rel="noreferrer noopener">report</a> by the BBC.
While the motion has passed the National Assembly, it still needs to be ratified by the Constitutional Court, which has 180 days to deliver its ruling.
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The vote sparked celebrations among anti-Yoon protesters who gathered outside the National Assembly, lighting fireworks to mark the moment. Despite this significant setback, Yoon has vowed to fight on, downplaying the impeachment as a temporary interruption to his presidency.
In a defiant statement, he pledged to continue working for the country until his term ends, contrasting his earlier apology for attempting martial law.
Yoon's push for military rule followed months of political deadlock, with the president citing concerns over North Korean interference in his government. However, his decision was swiftly overturned by lawmakers, sparking public outrage. Polls show overwhelming support for Yoon's impeachment, with three-quarters of South Koreans in favor of his removal.
The Constitutional Court's decision will be pivotal, as it will determine whether Yoon's impeachment stands. If upheld, a new presidential election must be held within 60 days.
In the meantime, Prime Minister Han Duck-soo has stepped in as acting president, though he, along with Finance Minister Choi Sang-mok, is under investigation in connection with the martial law attempt, the report read.
Yoon's downfall is a stark reversal for the former prosecutor, who was instrumental in the impeachment of former President Park Geun-hye in 2017. His martial law misstep has now undone him in a similar fashion, marking a dramatic turn in his political career, per a <a target="_blank" href="https://www.theguardian.com/world/2024/dec/14/south-korea-president-yoon-suk-yeol-downfall-analysis" rel="noreferrer noopener">news</a> report by The Guardian.
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Equities

Politics

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General

South Korean Lawmakers Impeach Yoon Over Martial Law Attempt

Global superstar Taylor Swift turned 35 years old on Friday, Dec. 13, and continues to be one of the most in-demand musicians as witnessed by a recent auction for old family Christmas cards and her recent success with a <a href="https://www.benzinga.com/general/entertainment/24/12/42351922/trump-predicted-taylor-swift-sales-would-drop-target-data-shows-over-800k-sold">tour photo book.</a>
What Happened: Swift is likely celebrating the end of her <a href="https://www.benzinga.com/general/entertainment/24/12/42393880/taylor-swifts-record-breaking-eras-tour-wraps-a-look-at-the-numbers">record-breaking "Eras Tour"</a> along with her birthday on Friday, but some investors or fans will soon be celebrating their recent purchase.
Auction company Goldin, which is owned by eBay Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) recently sold two holiday photo cards featuring a young Swift on them, including two Christmas cards sent to friends and family by her parents.
The 1992 and 1993 Christmas cards, sold in separate auctions, featured Swift as a three-year-old and four-year-old respectively, alongside her younger brother.
The 1993 card features the written inscription "from our family to yours…much love, the Swifts/ Scott, Andrea, Taylor (4 years), &amp; Austin (almost 2)."
The Christmas photo cards sold for $2,318 (1992) and $2,566 (1993) for a combined $4,884.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Up for bid at Goldin: Someone is selling the holiday cards they got from Taylor Swift's family in 1992 and 1993, when she was 3 &amp; 4 years old. <a href="https://t.co/5D0TA9BmeK">pic.twitter.com/5D0TA9BmeK</a>
&mdash; Darren Rovell (@darrenrovell) <a href="https://twitter.com/darrenrovell/status/1866888223701815558?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"It's incredible the things people save from three decades ago," Goldin Auctions founder and CEO Ken Goldin said, as <a href="https://www.cllct.com/sports-collectibles/auctions/two-taylor-swift-family-holiday-cards-sell-for-nearly-5k">reported </a>by cllct. "The fact that so many people were interested in these two items and each received so many bids, it shows the incredible worldwide popularity of Taylor Swift."
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Why It's Important: Goldin has <a href="https://goldin.co/buy/?search=taylor%20swift&amp;page=1&amp;sort=Highest_Bids&amp;number_of_lots=96&amp;show_only=Sold%2520Items">sold </a>many Swift memorabilia items over the last year, and has <a href="https://goldin.co/buy/?search=taylor%20swift&amp;sort=Ending_Soonest">more </a>up for sale that ends in less than a week. Among the top sales for Goldin are a handwritten, twice-signed lyric sheet for Swift's song "Tim McGraw," which sold for $87,840, a signed acoustic guitar that sold for $9,762 and a lot of 40 signed "Folklore" CD inserts which sold for $5,957.
A separate 1993 holiday card also sold for $2,562 earlier this year by Goldin.
Swift's Eras Tour broke records and fans continue to gravitate to memorabilia and merchandise from the singer.
The singer recently released a photo book with pictures and behind-the-scenes stories from the tour through an exclusive partnership with Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>). The <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42244324/black-friday-frenzy-shoppers-queue-for-taylor-swift-merch-retro-gadgets-and-more-as-retailers-open-doors-early-amid-shortened-shopping-season">book drew lines </a>on Black Friday and also set impressive milestones in its first weekend of availability.
The book sold 814,000 copies over the Black Friday shopping weekend, according to data from Circana&nbsp;<a href="https://apnews.com/article/taylor-swift-eras-book-sales-2024-record-c40605042af98eac2e9a7897a4bc2d73" target="_blank" rel="noreferrer noopener">reported&nbsp;</a>by the Associated Press.
The sales figures come with Target being the only retailer offering the book and being an in-store item for at least the first day. The number makes Swift&#8217;s book the top seller for the week and the biggest launch of 2024.
Swift&#8217;s book is the second-biggest nonfiction launch of all time, trailing only the first volume of&nbsp;Barack Obama&#8216;s&nbsp;2020 memoir, &#8220;A Promised Land,&#8221; the AP reports. The former president's book sold 816,000 copies in its first week. Unlike Swift&#8217;s book, Obama&#8217;s was widely released.
Goldin and eBay can be added to the list of companies that Swift has helped thanks to her popularity, a list that includes AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) and Live Nation Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>). Swift was also recently named the top streamed artist on Spotify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) for a <a href="https://www.benzinga.com/general/entertainment/24/12/42325116/2024-was-worlds-taylor-swift-era-once-again-spotify-reveals-top-artists-songs-albums-podcasts">second straight year.</a>
President-elect Donald Trump said that Swift's popularity and merchandise sales <a href="https://www.benzinga.com/general/entertainment/24/09/40815602/trump-shakes-off-taylor-swifts-harris-endorsement-in-2024-election-shell-probably-pay-a-pri">could take a hit</a> after endorsing Kamala Harris in the 2024 election.
&#8220;She seems to always endorse a Democrat and she&#8217;ll probably pay a price for it in the marketplace.&#8221;
It appears Trump has severely underestimated the fandom of the Swifties.
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Taylor Swift Fans/Collectors Are Paying Over $2,000 For Old Family Christmas Cards

Former U.S. House Speaker <a href="https://www.benzinga.com/topic/nancy-pelosi" target="_blank" rel="noreferrer noopener">Nancy Pelosi</a> has been hospitalized after sustaining an injury during <a href="https://www.benzinga.com/markets/equities/24/12/42479401/nancy-pelosis-stock-pick-broadcom-shoots-15-in-friday-pre-market-as-broadcom-ceo-sees-opportunity-over-the-next-3-years-in-ai" target="_blank" rel="noreferrer noopener">an official trip to Luxembourg</a>.
Pelosi, 84, was traveling with a bipartisan Congressional delegation to commemorate the 80th anniversary of the Battle of the Bulge when she suffered the injury.
According <a target="_blank" href="https://pelosi.house.gov/news/press-releases/pelosi-spokesperson-statement" rel="noreferrer noopener">to</a> her spokesperson, Ian Krager, Pelosi &#8220;sustained an injury during an official engagement&#8221; and was admitted to the hospital for evaluation.
Reports from U.S. media, citing anonymous sources, indicated that Pelosi fractured her hip after tripping and falling on a staircase during the event, <a target="_blank" href="https://www.bbc.com/news/articles/c1wq3jld884o" rel="noreferrer noopener">reports</a> BBC.
The injury comes just days after outgoing Senate Minority Leader Mitch McConnell, 81, also suffered injuries after a fall at the U.S. Capitol, underscoring the risks that accompany public figures&#8217; travel and engagements.
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Pelosi is currently receiving medical care and treatment in Luxembourg, with Krager assuring that she is &#8220;receiving excellent treatment from doctors and medical professionals.&#8221;
Despite her hospitalization, Pelosi continues to work from the hospital and is expected to return home to the U.S. soon.
Pelosi, a longtime California congresswoman, has had a prominent career in U.S. politics, serving as House Speaker from 2007 to 2011 and again from 2019 to 2023.
She was instrumental in several key legislative victories during her time in office. After stepping down as Speaker in 2023, Pelosi was re-elected to serve another term in the House.
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Pelosi Hospitalized After Injuring Hip During Luxembourg Trip

Deciding the future of a family home can be emotionally and financially complex, especially when the property becomes a point of contention between siblings. A <a href="https://youtu.be/VhDAR52W0Jo?si=nLQKW_6UOHUZq8Sg&amp;t=2012">recent discussion</a> on The Ramsey Show sheds light on one such scenario.
Tony, a caller from Chicago, explained his dilemma: after his mother's passing, he and his brother inherited a $450,000 paid-off home. Tony is the executor of the estate, but he feels torn between selling the house – potentially leaving his brother without a place to live – or allowing him to remain there rent-free as he has for the past 15 years.
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<a href="https://www.benzinga.com/personal-finance/24/12/42298730/theres-no-chance-youll-be-at-the-same-job-with-the-same-income-in-15-years-dave-ramsey-weighs-in-on-callers-concern-of-buying-a-home">Dave Ramsey</a> and co-host Jade Warshaw offered their perspectives, emphasizing financial responsibility, personal growth and the dangers of enabling unhealthy behavior.
Tony's brother, who struggles with anxiety and dependence on medication, doesn't have a job. His girlfriend, a part-time nurse and disabled veteran, pays his bills and has lived with him in the home for nearly a decade. Tony revealed his mother had allowed this arrangement out of compassion but admitted that continuing it feels unsustainable.
To complicate matters, Tony's father has been paying $1,400 a month to Tony's <a href="https://www.benzinga.com/personal-finance/24/11/41865970/parents-want-to-take-away-inheritance-from-daughter-not-living-according-to-the-bible-dave-ramsey-says-dont-use-this-as-punishment">inheritance</a>, intended as rent, to compensate for his brother occupying the home. Tony admitted he needed the money from selling the house and questioned whether letting his brother stay indefinitely was fair or beneficial.
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Ramsey pointed out that he wouldn't just be throwing his brother out on the street. "He's gonna have $200,000," Ramsey said, referring to the half of the proceeds each sibling would receive from selling the home. Ramsey questioned the fairness of the brother expecting to live rent-free and argued that enabling this behavior would do more harm than good.
Ramsey recommended that Tony approach the situation with both firmness and compassion.
"You do have to deal with this lovingly and help him get better and sit down with him," he advised. "Help them deal with it and help them see a path of what they could do with the money from the house."
Warshaw agreed, stressing the practicality of selling the home. "Just because he's lived there for 15 years – it wasn't his house," she said. She added that there's nothing wrong with Tony telling his brother that he needs the money from the house and working out a plan forward.&nbsp;
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Ramsey also noted that legal steps might be necessary if Tony's brother refuses to cooperate. While this could strain their relationship, Ramsey emphasized the importance of <a href="https://www.benzinga.com/general/24/06/39181971/gen-z-job-applicant-rejects-90-minute-task-ceo-faces-backlash">setting boundaries</a>.
Ramsey told Tony that if his brother reacts poorly to the discussion, Tony should contact a lawyer and take steps to evict him – and let his brother know that is going to happen. Ultimately, Ramsey said Tony needs to take proactive steps to end this dysfunction.&nbsp;
Many families face challenges when navigating inheritance and shared assets. Ramsey advises balancing compassion with accountability, ensuring that financial decisions are practical and supportive of long-term growth for everyone involved.
If you're grappling with a similar situation, consider consulting a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> or mediator to help you navigate the emotional and logistical complexities of family inheritance.
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'Should I Sell My Family Home Or Let My Brother Continue Living There For Free?' Dave Ramsey's Advice: 'Quit Enabling'

Presiden-elect <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> is reportedly eyeing privatizing the U.S. Postal Service (USPS) after the agency reported a staggering $9.5 billion loss in <a href="https://www.benzinga.com/24/12/42454670/usps-chief-defends-plan-to-buy-more-electric-delivery-vehicles-says-wont-return-funds-without-legislation-from-congress" target="_blank" rel="noreferrer noopener">the fiscal year ending September 30</a>.
This financial setback, caused by declining mail volumes and slower-than-expected growth in parcel shipping, has drawn attention to the Postal Service&#8217;s mounting liabilities, which now total nearly $80 billion, accoeding to a report <a target="_blank" href="https://www.washingtonpost.com/business/2024/12/14/trump-usps-privatize-plan/" rel="noreferrer noopener">by</a> The Washington Post.
Trump has expressed interest in overhauling the agency, potentially moving it into the private sector, the report read, citing people familiar with the discussions.
Trump, set to take office on January 20, has spoken about his plans to privatize the Postal Service with Howard Lutnick, his nominee for commerce secretary, during discussions at Mar-a-Lago.
Trump&#8217;s push for privatization has been discussed with key figures, including <a target="_blank" href="https://www.benzinga.com/topic/elon-musk" rel="noreferrer noopener">Elon Musk</a> and <a target="_blank" href="https://www.benzinga.com/topic/vivek-ramaswamy" rel="noreferrer noopener">Vivek Ramaswamy</a>, both of whom are leading a non-governmental panel on government efficiency, The Washington Post reports.
Also Read: <a target="_blank" href="https://www.benzinga.com/startups/24/12/42484881/musk-and-ramaswamy-may-target-this-surprising-government-role-that-pays-more-than-youd-think" rel="noreferrer noopener">Musk and Ramaswamy May Target This Surprising Government Role That Pays More Than You&#8217;d Think</a>
The panel&#8217;s discussions suggest a potential shift in how essential services like the Postal Service are managed, focusing on efficiency and reducing government expenditure.
Privatizing the USPS would likely reshape the landscape of consumer shipping.
Companies like FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) and United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) already dominate the parcel market. Privatization could narrow the scope of service, focusing on profitable routes, and leaving rural and less profitable areas underserved. This could affect millions of customers who rely on affordable, consistent mail services, particularly in regions where private carriers may not have the same reach.
The Postal Service, founded in 1775 by Benjamin Franklin, has long been a symbol of the nation&#8217;s commitment to connecting citizens. In 1970, it became a financially self-sustaining entity, tasked with binding the nation together through mail.
Despite the challenges posed by the digital age, it remains one of the most beloved federal agencies. However, with its ongoing financial struggles, the conversation about privatization has become more urgent. Trump&#8217;s plan, while still unclear, suggests a significant transformation of an institution that has served the nation for nearly 250 years, The Washington Post adds.
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Trump Eyes Privatization of Postal Service Amid $9.5 Billion Loss

Elon Musk, known for his work in <a href="https://www.benzinga.com/markets/equities/24/12/42383750/elon-musk-mocks-tesla-shorts-after-stock-hits-400-in-overnight-trading-on-robinhood">electric cars</a>, <a href="https://www.benzinga.com/general/space/24/11/42151383/elon-musks-spacex-secures-new-moon-mission-contract-after-starships-successful-6th-test-flight">rockets</a> and <a href="https://www.benzinga.com/tech/24/11/42181583/elon-musks-neuralink-to-launch-new-feasibility-trial-with-brain-implant-and-robotic-arm">brain-chip technology</a>, once explored the world of comedy. Back in 2017, Musk decided it was time to take on satire, teaming up with former Onion editors Ben Berkley and Cole Bolton to launch a new media project called Thud!
Musk, a <a href="https://x.com/elonmusk/status/899923514576084992">self-proclaimed fan</a> of The Onion, had previously tried to buy the satirical news site but couldn't close the deal. Instead, he offered Berkley and Bolton $2 million to create something new. According to the Verge, they eagerly accepted and poached a crew of Onion alumni to join them.
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<h2 class="wp-block-heading">The Birth of Thud!</h2>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thud!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/973857445683462145?ref_src=twsrc%5Etfw">March 14, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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In March 2018, Musk announced the project in true Musk fashion with a cryptic <a href="https://x.com/elonmusk/status/973857445683462145">tweet</a>. He simply wrote "Thud!" and said, "That's the name of my new intergalactic media empire, exclamation point optional." Musk said the name was inspired by "the sound something thick and dull makes when it hits the ground."
But Thud! wasn't just about creating another news parody site. The team wanted to experiment with immersive and absurd satirical experiences, blurring the lines between reality and comedy.
See Also: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
<h2 class="wp-block-heading">What Did Thud! Create?</h2>
The team developed several offbeat projects that are still floating around online, like DNA Friend, a parody of at-home DNA testing kits that claim to trace ancestry through photos of a person's mouth. TacStorm satirized American gun culture with its fictional gun that never stopped firing, while Ploog humorously advertised a &#8220;universal orifice adapter&#8221; that baffled audiences. Meanwhile, Mampfen poked fun at restaurant culture in Los Angeles, complete with an actual physical dining guide.
Some of these projects made their way into the real world. For example, a person dressed as a giant spit droplet promoted DNA Friend in New York City.
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<h2 class="wp-block-heading">The Empire Crumbles</h2>
Despite its promising start, Thud! faced serious challenges. Musk, concerned the satire could eventually target his own companies, pulled his funding in late 2018. This forced Berkley and Bolton to buy him out and try to keep the company alive.
Without Musk's backing, Thud! struggled. They had no business plan and couldn't secure new investors. By May 2019, the company shut down. Critics said the projects were clever but not funny enough to build a devoted audience.
<h2 class="wp-block-heading">The Legacy of Thud!</h2>
Today, Thud! is a quirky footnote in Elon Musk's long list of ventures. Its remains – a collection of satirical websites – serve as a digital time capsule of a bold experiment that fizzled out too soon.
Musk may have conquered electric cars and space, but it seems comedy was a frontier he couldn't quite crack. As the now-defunct Thud! website itself put it: "It was very aptly named."
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<h2 class="wp-block-heading">Stopping Infowars&#8217; X Account Sale to The Onion</h2>
In a separate move, Musk recently <a href="https://www.benzinga.com/24/11/42229130/elon-musks-x-objects-to-sale-of-conspiracy-theorist-alex-joness-infowars-accounts-to-the-onion-claims-ownership-over-joness-social-media">blocked the sale</a> of Infowars&#8217; social media accounts to The Onion&#8217;s parent company. The sale was part of Infowars&#8217; bankruptcy proceedings, but Musk's X Corp. argued that their terms of service prohibited transferring accounts without the platform's consent.&nbsp;
Musk's choice shows that he wants to control how accounts on X are used and passed on. He says that the platform owns the accounts, not the users. While there&#8217;s no decision yet, the case is making people think about who owns social media accounts and how companies like X can manage them during bankruptcy.
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Startups

Elon Musk Tried To Create A 'New Intergalactic Media Empire' Called 'Thud!' He Offered $2 Million To Onion Editors And Poached Staff Away

Perianne Boring, a crypto lobbyist who is CEO of The Digital Chamber, says that Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) value could potentially skyrocket to $800,000 next year.
What Happened: Boring made this prediction this week during an interview with Fox Business. According to Boring, this prediction is based on the future policies of President-elect Donald Trump.
She indicated that if Trump&#8217;s proposed policies for the crypto sector are successfully implemented, Bitcoin could see a value close to $1 million or more than that.
The stock-to-flow (S2F) model, traditionally used for commodities and now applied to Bitcoin, supports Boring&#8217;s prediction. This model suggests that the price of an asset increases as it becomes more scarce.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Personnel is policy: Perianne Boring <a href="https://t.co/52IPUr2owR">pic.twitter.com/52IPUr2owR</a>
&mdash; Mornings with Maria (@MorningsMaria) <a href="https://twitter.com/MorningsMaria/status/1867562618518478849?ref_src=twsrc%5Etfw">December 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"The stock-to-flow model says it's going to be at over $800,000 by the end of next year. If Donald Trump is successful in putting forward a lot of the proposals that he's proposed to the community, the sky is the limit because Bitcoin has a fixed supply," she said. &nbsp;
Trump, who had previously expressed&nbsp;skepticism about Bitcoin and crypto&nbsp;during his previous term, has pledged&nbsp;to protect and grow the&nbsp;digital asset sector during his recent campaign trail. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42380983/this-analyst-says-bitcoin-could-reach-200k-by-end-of-2025">This Analyst Says Bitcoin Could Reach $200K By End of 2025</a>
He also promised to fire SEC Chair Gary Gensler and end policies that hinder&nbsp;crypto investors and companies from&nbsp;using digital assets.
Following Trump&#8217;s victory, Gensler announced his resignation effective from January. Trump also indicated that the US would cease selling its&nbsp;seized Bitcoin on the open&nbsp;market, opting instead to&nbsp;hold the asset as an&nbsp;investment.
Why It Matters: This prediction by Boring is significant as it ties the potential surge in Bitcoin&#8217;s value directly to the policies of the incoming administration. 
Trump&#8217;s shift in stance towards Bitcoin and his promises&nbsp;to protect and grow the&nbsp;digital asset sector could potentially lead to a significant increase in Bitcoin&#8217;s value. His decision to hold seized Bitcoin as an investment also indicates a recognition of Bitcoin&#8217;s potential as a valuable asset. 
This could further drive demand and scarcity, leading to a surge in Bitcoin&#8217;s value as suggested by the S2F model.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049183/heres-how-a-bitcoin-whale-nets-179m-from-a-120-investment" target="_blank" rel="noreferrer noopener">Here&#8217;s How A Bitcoin Whale Nets $179M From A $120 Investment</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Analyst: Bitcoin's Potential Surge To $800,000 In 2025 Tied To Trump's Policies, Says This Analyst

Warren Buffett doesn't fit the mold of someone obsessed with traditional education, even though he's got the credentials to back it up. He has a bachelor's degree from the University of Nebraska and a master's in economics from Columbia University. But here's the thing: the Oracle of Omaha doesn't believe college is a must-do for everyone – <a href="https://www.benzinga.com/personal-finance/24/10/41563534/warren-buffetts-son-says-his-allowance-was-75-cents-a-week-as-a-kid-and-his-billionaire-dad-woul">especially not for his kids</a>.
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In a 2019 interview with Yahoo! Finance, Buffett admitted, "My dad kind of jollied me into it. He could get me to do anything. If they'd had an SAT test in those days, he would have taken the test for me." That little anecdote says a lot about how he views college – not as some sacred path to success but as one option among many.
Buffett has repeatedly pointed out that college isn't for everyone. "Some people are going to get a lot out of advanced education and some people are going to get very little," he said in a 2018 interview with The Long-Term Investor. "I don't even think it's important that every person go to college at all." That's a bold statement from someone who evaluates the value of investments. And education, as he sees it, is one of those investments where the payoff isn't always guaranteed.
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Take his kids, for example. None of the three finished college. <a href="https://www.benzinga.com/personal-finance/24/09/40881429/warren-buffetts-daughter-asked-him-for-a-41-000-loan-to-remodel-her-kitchen-but-the-billionaire-">Susie, his daughter</a>, came the closest – she was just three credits short. But, as Buffett joked during a 2018 Fox Business interview, "If you pool their credits, you got a degree."
Susie herself has said that growing up as a Buffett meant equal opportunity for all, regardless of gender. "He never treated me <a href="https://www.benzinga.com/personal-finance/24/10/41198368/warren-buffetts-son-who-famously-cashed-in-his-90-000-inheritance-at-19-spends-millions-in-buffe">any differently than the boys</a> as far as you should do this or you should do that," she told Fox Business. That might explain why she felt no pressure to cross the college finish line – her dad didn't see it as a finish line.
For Buffett, the question isn't "Should everyone go to college?" but rather "Does it make sense for you?" He's quick to acknowledge that there are plenty of jobs paying $70,000 to $80,000 a year that don't require a degree. "It's a big commitment to take four years and the cost involved and maybe the loans involved. There ought to be a reason you're going," he told Yahoo! Finance.
Trending: Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
That's not to say he's anti-education. He famously said, "The more you learn, the more you earn." But he's also skeptical of stats that oversimplify the value of a degree. Comparing lifetime earnings of college grads versus non-grads? Buffett calls that "a fraud" because it ignores factors like ambition, access and plain old luck.
Still, the earnings gap is hard to ignore. In 2020, The Hamilton Project reported that the typical college graduate earns about $1.19 million over their lifetime – more than double what a high school graduate pulls in ($580,000). It's also $335,000 or 39%, more than the lifetime earnings of someone with an associate degree.
Buffett doesn't dismiss the value of education – he just doesn't worship at its altar. He grew up watching his sisters outperform him in school, yet they faced limited career options <a href="https://www.benzinga.com/personal-finance/24/08/40106860/warren-buffetts-wife-susan-said-he-feels-women-all-over-the-world-get-shortchanged-hes-all-for-l">because of their gender</a>. That stuck with him. "They scored the same as I did at tests and all that sort of thing," he told Fox Business. "They had better personalities."
So here's the takeaway: if Warren Buffett – one of the richest, smartest guys in the room – says college isn't for everyone, maybe it's time to rethink the "one-size-fits-all" approach.&nbsp;
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Warren Buffett Doesn't Believe College Is For Everyone – None Of His 3 Kids Finished: 'If You Pool Their Credits, You Got A Degree'

Eric Trump, executive vice president of the Trump Organization, has positioned himself as a central figure in shaping the Trump family's political and financial strategies. He is a key figure poised to play a pivotal role in shaping America's trajectory alongside his father, Donald Trump. 
In a recent exclusive interview with Benzinga&#8216;s <a href="https://www.benzinga.com/author/bibhu-pattnaik">Bibhu Pattnaik</a>, Eric highlighted his father's focus on government efficiency, drawing parallels with Billionaire Elon Musk's approach to innovation. 
Praising Musk as "the Albert Einstein of our time," Eric underscored Musk's emphasis on creating efficiency in his businesses, including reusable rockets. 
&#8220;He&#8217;s a great chap. Elon Musk is the Albert Einstein of our time. The guy&#8217;s incredible. Actually, if you break down most of his businesses, what&#8217;s his recipe for success? And that&#8217;s, frankly, efficiency. He wants to make the most efficient rockets, ones that land back on top so they can be reusable in two weeks and everything else, right,&#8221; Eric told Benzinga. 
He further claimed that Musk&#8217;s efficiency-focused philosophy could reshape the U.S. government under a Trump-Musk alliance.
On Musk's role, Eric expressed confidence in his ability to contribute to America's progress, suggesting that his strategies could help cut federal spending by a trillion dollars. 
Also Read: <a href="https://www.benzinga.com/markets/24/11/41869001/heres-how-trumps-policies-might-shape-the-markets-future">Here&#8217;s How Trump&#8217;s Policies Might Shape The Market&#8217;s Future</a>
&#8220;He wants efficiency, and that&#8217;s what DOGE is going to do. He&#8217;s going to create efficiency in the United States government. He&#8217;s going to cut a trillion dollars. I think Elon Musk is going to do an incredible job, and I think we&#8217;re going to see a stronger America because of it,&#8221; Eric added. 
Eric's comments framed Musk as a key partner in driving efficiency in both the private and public sectors.
Eric criticized the current federal workforce, alleging that a significant portion of government employees don't show up to work five days a week. He suggested reducing inefficiencies by cutting unnecessary roles and redirecting resources. 
He argued that such measures would lead to significant cost savings and a leaner, more effective government.
&#8220;Listen, 90% of the U.S. government doesn&#8217;t even show up to work five days a week. Yet you have 2.5 million employees in the United States government. Congratulations! if you&#8217;re not showing up to work, we don&#8217;t need you. Get rid of you and go be useful somewhere else,&#8221; Eric said. 
&#8220;Go do something where you&#8217;re going to be efficient. The commercial markets won&#8217;t allow somebody to not show up at work, right? Don&#8217;t take care of that problem. I think my father is going to create massive efficiency,&#8221; he further said. 
Eric also discussed his ongoing support for his father's campaign efforts, signaling a continuation of the family's influence on Republican politics. 
His remarks come as Donald Trump prepares for a potential 2024 bid, intertwining family business, politics, and innovation in a controversial but headline-grabbing vision for the future.
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EXCLUSIVE: Eric Trump Calls Elon Musk 'Albert Einstein Of Our Time,' Says Tesla CEO Will Help Build 'A Stronger America'

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The Dow dropped 1.8% this week, while the S&amp;P 500 fell 0.6%, ending a three-week winning streak. Meanwhile, the Nasdaq gained 0.3%, continuing its climb, driven by optimism in tech and artificial intelligence. 
The Nasdaq 100, boosted by the Magnificent Seven, reached record highs, approaching the 22,000 mark and logging a 30% year-to-date gain. Five of the group's stocks, including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), hit new highs, with their combined market value <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42492966/ai-driven-rally-pushes-tech-stocks-to-records-broadcom-enters-trillion-dollar-club-inflation-data-flashes-warning-signal-this-week-in-the-markets">surpassing $18 trillion.</a>
Inflationary pressures also persisted in November, with the Consumer Price Index rising 2.7% year-over-year, marking the second consecutive annual increase and presenting challenges for the Federal Reserve's 2% target. Shelter costs, which rose 0.3%, accounted for 40% of the monthly CPI gain, underscoring the sticky nature of inflation despite <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436676/inflation-rises-as-expected-in-november-sustain-hopes-for-next-weeks-fed-interest-rate-cut">earlier signs of disinflation.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42449593/tesla-stock-is-analysts-top-2025-sector-pick-elon-musks-political-involvement-will-accelerate-teslas-journey-beyond-autos">Tesla Is Analyst&#8217;s Top 2025 Stock Pick: Elon Musk Political Involvement May &#8216;Accelerate&#8217; EV Maker Beyond Autos</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as an analyst&#8217;s top automotive pick for 2025, citing Elon Musk's political influence as a catalyst for Tesla&#8217;s expansion into AI, robotics, and renewable energy beyond its core automotive business.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, shares a crypto analyst&#8217;s bullish prediction for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), targeting $3 with a potential high of $18 in a &#8220;wild&#8221; scenario, while using dips between $0.40 and $0.30 to increase holdings early in the bull cycle.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42433049/microstrategy-nasdaq-100-inclusion-on-the-horizon-could-spell-59-upside-says-bernstein">MicroStrategy: Nasdaq 100 Inclusion On The Horizon Could Spell 59% Upside, Says Bernstein</a>,&#8221; by <a href="https://www.benzinga.com/author/murtuza-merchant">Murtuza Merchant</a>, highlights the significance of MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) joining the Nasdaq 100. Bernstein projects the move could enhance visibility, drive $2.1 billion in ETF inflows, and support a $600 price target, underpinned by the company's Bitcoin-centric growth strategy.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42433831/bitcoin-to-200000-ethereum-to-7000-solana-to-750-in-2025-predicts-bitwise">Bitcoin To $200,000, Ethereum To $7,000, Solana To $750 In 2025, Predicts Bitwise</a>
<a href="https://www.benzinga.com/24/12/42453057/palantir-positioned-to-become-the-next-oracle-in-2025-says-dan-ives-messi-of-ai-set-for-breakout-year">Palantir Positioned To Become &#8216;The Next&#8217; Oracle In 2025, Says Dan Ives: &#8216;Messi Of AI&#8217; Set For Breakout Year</a>
<a href="https://www.benzinga.com/general/space/24/12/42412982/russell-2000-high-flyers-4-stocks-shaping-2024-with-quantum-ai-nuclear-space">Russell 2000 High Flyers: 4 Stocks Shaping 2024 With Quantum, AI, Nuclear, Space</a>
The Bears
&#8220;<a href="https://www.benzinga.com/news/legal/24/12/42404352/nvidia-china-antitrust-probe-may-remain-unsolved-in-near-term-says-top-analyst-investors-should-be-prepared-for-increased-scrutiny">Nvidia China Antitrust Probe May &#8216;Remain Unsolved&#8217; In Near Term Says Top Analyst; Investors Should Be Prepared For Increased Scrutiny</a>,&#8221; by <a href="https://www.benzinga.com/author/ananya-gairola">Ananya Gairola</a>, discusses China&#8217;s investigation into NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for potential anti-competitive practices, with TF Securities&#8217; Ming-Chi Kuo predicting limited short-term financial impact but warning of escalating scrutiny, including possible future CUDA-related probes.
&#8220;<a href="https://www.benzinga.com/news/global/24/12/42402629/trump-to-change-dollar-stores-for-good-dollar-tree-exec-says-prepared-to-act">Trump To Change Dollar Stores For Good? Dollar Tree Exec Says &#8216;Prepared To Act&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) and Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) bracing for cost pressures from proposed tariffs, with Dollar Tree's CEO stating the company is ready to adapt its pricing and supply strategies.
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42468190/defense-stocks-face-headwinds-as-trumps-doge-targets-spending-cuts-goldman-sachs-downgrades-general-dynamics-to-sell">Defense Stocks Face Headwinds As Trump&#8217;s DOGE Targets Spending Cuts: Goldman Sachs Downgrades General Dynamics</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, reports Goldman Sachs&#8217; downgrade of General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) to Sell, citing risks from Donald Trump&#8216;s Department of Government Efficiency&#8217;s potential Pentagon budget cuts, while Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) remain under scrutiny for valuation concerns and slowing growth.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/24/12/42452944/larry-summers-cautions-on-trumps-tariffs-and-tax-cuts-markets-are-hair-trigger-sensitive-to-inflation">Larry Summers Warns Of Nixon-Era Risks In Trump&#8217;s Term: Policies Could Trigger &#8216;Significantly Larger&#8217; Inflation</a>
<a href="https://www.benzinga.com/media/24/12/42482813/intel-cfo-hints-at-possible-division-split-as-company-struggles-to-recapture-moat">Intel CFO Hints at Possible Division Split as Company Struggles To Recapture Moat</a>
<a href="https://www.benzinga.com/markets/24/12/42430772/janet-yellen-warns-trump-tariffs-could-undermine-confidence-in-financial-markets-and-raise-american-household-costs">Janet Yellen Warns Trump Tariffs Could &#8216;Undermine Confidence In Financial Markets&#8217; And Raise American Household Costs</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
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Benzinga Bulls And Bears: Tesla, Nvidia, MicroStrategy, Dollar Tree, And Dogecoin Prediction Of $18 In 'Wild' Scenario

In the rolling hills of Deary, Idaho, a forgotten piece of history sat quietly on a neighbor's farm, collecting dust, rot and the occasional cat colony. Train car number 306, once a proud fixture of the Washington Idaho &amp; Montana Railway, had been out of commission since the 1950s.&nbsp;
For decades, it remained parked and forgotten – until Isaac French's dad spotted it and saw a glimmer of something extraordinary.
"My dad bought this 120-year-old train car for $3,000," French, 27, shared in a <a href="https://x.com/isaacfrench_/status/1823723454572716408">viral X thread </a>with over 16 million views. "It was a rotting, cat-infested wreck. After $149k and five months, we redeemed it."
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In 2020, after years of pondering, the family bought the 61-foot-long train car for a mere $3,000. But getting it to their 145-acre property was another story. Moving the beastly structure cost $10,000 and finding someone willing to take on the job wasn't easy.&nbsp;
"We chose the highest point on our land for epic views," French explains, "but getting it up there? Not exactly a walk in the park."
Once the train car was in place, the real work began and the family transformed the derelict car into a stunning <a href="https://www.benzinga.com/real-estate/24/11/41841883/housing-crisis-forces-airbnb-and-vrbo-into-the-hot-seat-as-cities-grapple-with-soaring-rents-and-mounting-public-backlash">Airbnb </a>getaway. French and his siblings rolled up their sleeves, tackling most of the work.
They refurbished the floors, preserved the original windows and even recreated the historic lettering on the side, inspired by a 1906 photo of the train car in its prime. Subcontractors handled the trickier parts, like HVAC and electrical, but the heart of the project was all French family grit.
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Inside, they turned the passenger room into a cozy sitting area with a gas potbelly stove and added a kitchenette. The old mail room became a bedroom with a plush king-size bed, while a sleek bathroom with a barn door completed the transformation.&nbsp;
To elevate the experience further, they added a mirrored sauna, hot tub and firepit outside. "It's the perfect mix of old and new," French says. "Guests wake up to these incredible panoramic views. It's magical."
Apparently, travelers agree. Listed at $325 to $350 per night, the train car hit a 90% occupancy rate in its first year, bringing in $14,179. Since then, business has boomed, with annual revenue climbing to $105,000 in 2023.&nbsp;
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The French family keeps about 65% of that profit, with the rest covering cleaning, maintenance and insurance. According to AirDNA, between 2020 and 2024, the number of unique Airbnb stay listings – such as yurts and train cars – increased by 123%, outpacing the growth of traditional listings.
Despite the train car's <a href="https://www.benzinga.com/startups/24/12/42258507/tech-ceo-turns-15000-into-1-million-with-pizza-nobody-was-mad-they-got-the-pizza-says-founder-behind-the-viral-campaign">viral success</a>, the family has no plans to jack up prices. "We love hosting people from all over the country," French says. "There's so much joy in sharing this piece of history."
As for the train car, French sees it as a symbol of what's possible. "There are so many old treasures just waiting to be rediscovered. All it takes is a little love to breathe life back into them."
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Abandoned Train Car Transformed Into Airbnb Hit: 'It Took $150,000 And A Lot Of Love, But Now It's Making $105K A Year'

Jeff Bezos is building a clock that makes the average wristwatch seem trivial. In a 2023 Lex Fridman Podcast episode, Bezos delved into the <a href="https://www.benzinga.com/startups/24/12/42370220/i-would-lose-almost-every-time-shaq-admits-he-invested-his-money-blindly-before-meeting-jeff-bezos-he-explained-what-the-future-holds">concept behind his $42 million project</a>: the 10,000-Year Clock.&nbsp;
Nestled inside a mountain in West Texas, this engineering marvel ticks once a year, chimes every century and showcases a cuckoo every millennium. Why? Bezos explains it's a bold symbol to shift humanity's focus toward long-term thinking – a concept he believes is critical in a rapidly evolving world.
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"This clock isn't just a piece of machinery," Bezos shared. "It's a reminder. Humans need to stretch their thinking horizons beyond quarterly reports or election cycles to generations ahead. Long-term thinking is the lever to solve problems that seem impossible when we're stuck in the short-term."
Although Bezos <a href="https://www.benzinga.com/real-estate/24/04/38498372/jeff-bezos-is-so-rich-that-spending-1-000-000-is-like-the-average-person-spending-1-here-is-how-he-s">announced installation began</a> in 2018 via a post on X, there is no expected completion date at this time.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Installation has begun—500 ft tall, all mechanical, powered by day/night thermal cycles, synchronized at solar noon, a symbol for long-term thinking—the <a href="https://twitter.com/hashtag/10000YearClock?src=hash&amp;ref_src=twsrc%5Etfw">#10000YearClock</a> is coming together thx to the genius of Danny Hillis, Zander Rose &amp; the whole Clock team! Enjoy the video. <a href="https://t.co/FYIyaUIbdJ">pic.twitter.com/FYIyaUIbdJ</a>
&mdash; Jeff Bezos (@JeffBezos) <a href="https://twitter.com/JeffBezos/status/965957024109379602?ref_src=twsrc%5Etfw">February 20, 2018</a></blockquote>
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The clock itself is no small feat. Standing 500 feet tall and carved into a remote mountain, the design includes precision mechanics powered by natural thermal cycles. Materials like marine-grade stainless steel and hi-tech ceramics were chosen to ensure it lasts 10,000 years with no human intervention. As Bezos described, the clock will "accrue the patina of age" and eventually become a living piece of history, inspiring future civilizations.
During the interview, Lex Fridman posed a big question: "Do you think humans will be here when the clock runs out?" Bezos replied with measured optimism, saying, "Here on Earth? I think so." But he followed up took a more realistic tone: "The United States won't exist." He elaborated, pointing out that civilizations inevitably rise and fall. "10,000 years is so long. No nation-state has ever survived for anywhere close to 10,000 years."
Fridman noted how the accelerating pace of progress might further challenge long-term stability. Bezos agreed, adding, "It makes that even less likely."&nbsp;
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The clock's concept originated from inventor Danny Hillis in the 1980s, but Bezos has taken it to another level. By funding and housing the project on his own land, Bezos envisions it becoming a pilgrimage site. Visitors will have to hike rugged terrain to witness the clock in action – an intentional design to underscore its importance.
The clock's features are as mind-bending as its timeline. Five chambers mark milestones, including one- and 10,000-year anniversaries. A custom orrery will even track planetary movements and past interplanetary probes. Legendary musician Brian Eno contributed a chime generator capable of producing 3.5 million unique bell sequences, ensuring no sound repeats in any human lifetime.
Bezos emphasized that the clock is less about today's achievements and more about shaping the mindset of tomorrow. "We've built technologies capable of extraordinary wonders but also civilization-scale problems," he noted. By anchoring people to the reality of 10,000 years, the clock challenges humanity to act responsibly for future generations.
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This larger-than-life clock isn't just about engineering marvels or philosophical musings – it's also a testament to humanity's potential to think beyond the now. Whether it's climate change, global conflict or existential threats, Bezos believes the <a href="https://www.benzinga.com/general/24/01/36578721/jeff-bezoss-refreshingly-normal-morning-routine-includes-puttering-around-drinking-coffee-chatting-w">solutions begin with a shift in perspective</a>.
The question remains: will this ticking timepiece succeed in nudging humanity to think further ahead? Bezos admits its true impact might not emerge for centuries, but that's kind of the point. "If it ever influences people to think longer term, that won't happen for hundreds of years," he acknowledged. "But we have to build it now."
For those daring enough to visit, don't expect instant gratification. It's a trek through desolate terrain, rising 2,000 feet above the valley floor. But maybe that's fitting for a clock that's teaching us all to slow down.
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Jeff Bezos Is Spending $42 Million On A Clock Designed To Last 10,000 Years – He 'Thinks' Humans Will Still Be Here, But Not United States

Many former athletes go broke when they retire, but some, like Patrick Dovigi, become successful business owners and make a fortune in real estate as a side hustle. The former 90s <a href="https://www.benzinga.com/topic/national-hockey-league">NHL</a> goalkeeper just pocketed a cool $6 million in six months with a speedy house flip in Colorado. It&#8217;s the latest in a string of such ventures for the Toronto-based billionaire.
Dovigi, founder of the environmental services and waste-management company Green For Life Environmental, purchased an 8,000-square-foot mansion in Aspen in April in an off-market deal for $48.75 million. According to the Wall Street Journal, the sellers were longtime Aspen residents Ken Sack and Sheri Alden Sack, who renovated the home. Dovigi added a bedroom to make a total of eight, left the rest of the house the same, and promptly listed and sold it for $55 million.
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<h2 class="wp-block-heading">Multimillion Dollar Flips</h2>
Dovigi, who once prevented forwards from scoring, has made a habit of scoring great Aspen flips. The numbers are huge. Just this Spring, he sold a <a href="https://www.benzinga.com/real-estate/24/04/38321202/casino-kingpin-steve-wynn-and-billionaire-neighbor-bet-big-on-108-million-aspen-mansion">$108 million mansion</a> to former casino mogul Steve Wynn and financier Thomas Peterffy. Dovigi had originally purchased the property for $72.5 million.
He sold a $55 million home the previous year after paying $44.5 million. His most recent acquisition was a $59.75 million home previously owned by actor Jack Nicholson. There is no word on what he plans to sell it for.
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The eye-popping purchase and sales prices are small change for billionaire Dovigi, who was drafted by the NHL&#8217;s Edmonton Oilers in 1997 and played for several years in the country&#8217;s top professional hockey league. He founded his waste management company 10 years after he was drafted, having attended business school at Toronto Metropolitan University and worked at a real estate investment firm.
<h2 class="wp-block-heading">A One-Stop Shop For Waste Management</h2>
According to Canadian Business, Dovigi made his fortune in waste management by buying up and consolidating the numerous mom-and-pop businesses in the category. He founded Green For Life in the summer of 2007 with $10 million in seed capital from investors David Kassie and Barry Goldberg at Canaccord Genuity Group. Dovigi had previously played hockey with Barry Goldberg&#8217;s son. Green For Life&#8217;s goal was to be all things to all people regarding waste management: collecting municipal, industrial, and commercial waste, cleaning stormwater from underground parking garages, and collecting used motor oil from car dealerships and lube shops.
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<h2 class="wp-block-heading">Rapid Expansion</h2>
The advent of the 2008 financial downturn allowed the company to expand rapidly out of Toronto. In 2017, it entered the U.S. market, where it grew exponentially. Today, 65 percent of the company&#8217;s business is in the U.S.
&#8220;My initial goal was to build a business of $40 to $50 million in revenue, and here we are, $7 billion in revenue later,&#8221; he told Canadian Business.
With a personal fortune of over a billion dollars, Dovigi can afford to buy and sell luxury Aspen homes for fun, cleaning up massive profits in a city that has seen multiple $30 million-plus deals so far this year. The median single-family home price in Aspen was $16.5 million in Q1 and Q2, and house prices <a href="https://www.benzinga.com/content/41951396/exploring-the-financial-prospects-of-the-aspen-luxury-market">soared 24%</a> from the same period last year. The former athlete feels his years on the ice stood him in good stead for his future entrepreneurial ambitions.
&#8220;Putting in the hard work and facing adversity are things you learn when you play sports that teach you how to be a better executive,&#8221; he said.
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Former Hockey Player Patrick Dovigi Makes A Quick $6 Million In 6 Months With Speedy Aspen Flip

Daksh Gupta, the 22-year-old founder and CEO of AI startup Greptile, has sparked widespread discussion with his transparent stance on workplace culture. In contrast to many businesses prioritizing work-life balance, Gupta has made it apparent that his organization favors long hours and hard labor and is up-front with <a href="https://careers.benzinga.com/">job seekers</a> about this.
In a now-viral <a href="https://x.com/dakshgup/status/1855150225402552676">post</a> on X, Gupta explained: &#8220;Recently, I started telling candidates right in the first interview that Greptile offers <a href="https://www.benzinga.com/startups/24/10/41231722/kevin-oleary-says-theres-no-worklife-balance-for-new-entrepreneurs-as-guys-in-mumbai-or-shanghai-wor">no work-life balance</a>, typical workdays start at 9 a.m. and end at 11 p.m., often later and we work Saturdays, sometimes also Sundays. I emphasize the environment is high stress and there is no tolerance for poor work.&#8221;
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The post received considerable attention. Gupta described the reaction as &#8220;20% death threats and 80% job applications.&#8221; The conversation also gained traction on Reddit, with responses ranging from criticism of the work culture to praise for his honesty.
<h2 class="wp-block-heading">Some People Want This</h2>
In follow-up posts, Gupta clarified that his approach is not for everyone but is designed to attract those who thrive in high-intensity environments. "It might be hard to believe, but there exist people that want this, while a minority. The transparency exists to identify them," he noted.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">now that this is on the front page of reddit and my inbox is 20% death threats and 80% job applications, here's a follow up &#8211; to everyone who is overworked and underpaid at their software jobs esp outside the US, i feel for you, and i'm sorry this struck a nerve. the people… <a href="https://t.co/RzAM75DiG2">pic.twitter.com/RzAM75DiG2</a>
&mdash; Daksh Gupta (@dakshgup) <a href="https://twitter.com/dakshgup/status/1855670370659111242?ref_src=twsrc%5Etfw">November 10, 2024</a></blockquote>
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Gupta emphasized that the current workload is temporary. He compared the <a href="https://www.benzinga.com/money/stages-of-venture-capital-financing-all-you-need-to-know">early stage of a startup</a> to &#8220;reaching escape velocity,&#8221; requiring significant <a href="https://www.benzinga.com/money/how-to-invest-in-startups">effort to establish the business</a>.&nbsp;
"This kind of hard work isn't meant to last forever because it's not something people can keep up," Gupta said. He explained that in the first year or two of starting a company, you must work hard to get things going. But as the company grows, they plan to bring in more experienced workers who might need more balanced hours and they'll adjust things to make that happen.
<h2 class="wp-block-heading">Addressing Criticism</h2>
Some critics questioned why anyone would choose such a demanding work environment. The young founder made the case that high-intensity companies are frequently the most successful, citing the possibility of financial gains through equity. "Less than 10% of new startups grow big enough for their equity to be worth much. If you want to get rich through equity, you'd probably need to work at the top 10% of startups, which are usually the ones where people work the hardest," he explained to X users.
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Some people thought work hours should be more flexible. One person suggested letting employees pick their schedules. Gupta said he understood this idea but explained that teamwork is key for a small team. "This might work well for some talented engineers, but working together in real-time requires everyone to share the same hours," he said.&nbsp;
<h2 class="wp-block-heading">&#8220;I&#8217;m San Franciscan&#8221;</h2>
Gupta also addressed stereotypes after receiving criticism linking his work ethic to his Indian heritage. &#8220;Lot of Indian hate coming from this post, so I want to clarify that I am like this not because I'm Indian but because I'm San Franciscan," he wrote, emphasizing the influence of Silicon Valley's fast-paced culture on his approach.
Despite the mixed reactions, Gupta has supposedly seen an unexpected benefit – increased interest from potential hires. "More people reached out asking to join than I expected, most that are bored at large companies and looking for some excitement, which we have an overwhelming abundance of," he shared.
Gupta views his approach as deeply tied to his philosophy. "I care in the way an athlete cares about their sport or an instrumentalist cares about their instrument," he told Fortune.
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'I'm San Franciscan' – 22-Year-Old CEO Doubles Down On Demanding 80+ Hour Workweeks After Getting 20% Death Threats And 80% Job Applications

Real estate mogul Grant Cardone recently sparked a heated debate when he tweeted that China should not be allowed to purchase U.S. real estate unless they partner with a U.S. entity. "You want to invest here, partner here," he stated.&nbsp;
Cardone's statement reignited concerns about foreign ownership of American land, <a href="https://www.benzinga.com/real-estate/24/03/37879730/the-silent-invasion-is-chinas-tightening-grip-on-u-s-farmland-a-threat-to-our-food-security">particularly by China</a>, which has been under increased scrutiny recently.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">China &#x1f1e8;&#x1f1f3; should not be allowed to buy real estate in USA without having a US partner. You want to invest here partner here. 你想在这里投资合作伙伴
&mdash; Grant Cardone (@GrantCardone) <a href="https://twitter.com/GrantCardone/status/1865127436490363267?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
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While Cardone's tweet zeroed in on China, foreign ownership of U.S. land is nothing new. According to the 2021 USDA <a href="https://www.fsa.usda.gov/sites/default/files/documents/2021_afida_annual_report_through_12_31_2021.pdf">report</a>, foreign entities own about 40 million acres of U.S. agricultural land or roughly 3% of privately held farmland.&nbsp;
Among these, Canada leads with 12.8 million acres, far outpacing other countries. China, on the other hand, ranks 18th, owning approximately 384,000 acres. While this is more land than the 248,000 acres that <a href="https://www.benzinga.com/real-estate/24/07/39797332/bill-gates-owns-275-000-acres-of-u-s-farmland-his-answer-to-why-hes-buying-so-much-of-it-might-surpr">billionaire Bill Gates owns</a>, it's not much compared to Dutch or Canadian holdings.
The top 10 countries for 2021 look like this:
<ol>
<li>Canada (12,845,000 acres)</li>
<li>Netherlands (4,875,000)</li>
<li>Italy (2,703,000)</li>
<li>United Kingdom (2,538,000)</li>
<li>Germany (2,269,000)</li>
<li>Portugal (1,483,000)</li>
<li>France (1,316,000)</li>
<li>Denmark (856,000)</li>
<li>Luxembourg (802,000)</li>
<li>Ireland (760,000)</li>
</ol>
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<h2 class="wp-block-heading">Why the Controversy?</h2>
Many view China's investments in U.S. farmland and real estate as a potential national security risk. According to Forbes, in 2021, a Chinese company wanted to build a corn mill near an Air Force base in North Dakota, but lawmakers stopped it because they were worried about spying. This and other tensions like trade issues and concerns about Chinese surveillance balloons have made people more nervous about why China is buying U.S. land.
<h2 class="wp-block-heading">What Does China Own?</h2>
Of the Chinese-owned U.S. farmland:
<ul>
<li>According to NPR, over a third is controlled by Smithfield Foods, the U.S.'s largest pork producer, which was acquired by China's WH Group in 2013.</li>
<li>Around 40% is held by Sun Guangxin, who purchased over 100,000 acres in Texas for a wind farm project that was ultimately halted due to security concerns.</li>
<li>Smaller portions are managed by Walton International Group, which represents multiple global investors.</li>
</ul>
Critics argue that while China's share of U.S. farmland is small, the concentration of these holdings near sensitive locations poses significant risks. "What's missing here is a lot more information about where these specific locations or farmland purchases are located in close <a href="https://www.benzinga.com/real-estate/24/02/37264029/foreign-buyers-with-ties-to-american-strategic-rivals-are-gobbling-up-american-farmland-and-real-est">proximity to the military base</a>," said Craig Singleton from the Foundation for Defense of Democracies.
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<h2 class="wp-block-heading">A Legislative Push</h2>
Lawmakers across party lines call for stricter rules to limit or monitor foreign ownership of U.S. land. They've introduced bills like the <a href="https://www.congress.gov/bill/118th-congress/house-bill/513?s=1&amp;r=2&amp;q=%7B%22search%22%3A%5B%22%22%5D%7D">FARM Act</a> to make ownership more transparent and to limit buying land close to vital infrastructure like military bases. The Biden administration also considers changing the rules for buying land close to these sensitive areas.
However, the system for tracking foreign land ownership is flawed. The USDA relies on self-reported data, which is often outdated and incomplete. Due to funding delays, recent efforts to modernize reporting through an electronic filing system remain stalled.
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'You Want To Invest Here, Partner Here,' Says Grant Cardone, Demanding Chinese Investors Partner With U.S. Firms To Buy Real Estate

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December 9, 2024 – TheNewswire – Vancouver, British Columbia, Canada – Golden Star Capital Ventures Inc. ("Golden Star" or the "Company") is pleased to announce that, further to its news release of October 22, 2024, the TSX Venture Exchange ("TSXV") has granted an extension to the Company to complete its private placement of up to 20,000,000 common shares at $0.10 per share for gross proceeds of up to $2,000,000 (the "Offering"). Golden Star intends on completing one or more closings up to and including January 8, 2025. For further details regarding the terms of the Offering, please see the Company's news release of October 22, 2024.


The Company is a "Capital Pool Company", as defined under the policies of the TSXV ("CPC Policy"). The Company does not have any agreement, agreement in principal or any other arrangement with any party in connection with a potential Qualifying Transaction. Proceeds from the Offering will be used for audit, legal, and, general working capital, due diligence costs related to identifying and evaluating assets or businesses for a potential Qualifying Transaction, financing or partially financing the acquisition of significant assets in connection with a Qualifying Transaction or for working capital after completion of a Qualifying Transaction. In the event that a proposed Qualifying Transaction is identified, a portion of the private placement proceeds may be used as an advance to the target company for the purposes of preserving its assets prior to closing of the transaction. 


All common shares issued pursuant to this placement will be subject to a four month hold period from the date of issuance. The Offering is subject to the approval of the TSXV. 


For further information, please see Golden Star's profile on SEDAR+ at: https://www.sedarplus.ca/


About Golden Star


<a href='' target='_blank'></a>Golden Star is a CPC created to identify and evaluate potential acquisitions of commercially viable businesses and assets that have the potential to generate profits and add shareholder value. Except as specifically contemplated in the CPC Policy of the TSXV, until the completion of the qualifying transaction, Golden Star will not carry on business, other than the identification and evaluation of companies, businesses or assets with a view to completing a proposed qualifying transaction.


For further information, please contact:


David Redekop


Chief Executive Officer and Chief Financial Officer


Phone: 250-863-8914


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


This news release contains forward-looking statements and forward-looking information within the meaning of ‎applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", ‎‎"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to ‎identify forward-looking information or statements. In particular, this news release contains forward-looking ‎information relating to the Offering and the use of the proceeds therefrom. The forward-looking statements ‎and information are based on certain key expectations and assumptions made by the Company, including ‎expectations and assumptions concerning the completion of the Offering and the use of proceeds of the ‎Offering. Although the Company believes that the expectations and assumptions on which such forward-‎looking statements and information are based are reasonable, undue reliance should not be placed on the ‎forward looking statements and information because the Company can give no assurance that they will prove ‎to be correct.‎

Copyright (c) 2024 TheNewswire - All rights reserved.

Golden Star Capital Ventures Inc. Announces Extension to Complete Non Brokered Private Placement

TikTok will be banned in the United States on Jan. 19, 2025, after a federal appeals court rejected its <a href="https://www.benzinga.com/24/12/42369266/meta-reddit-stocks-climb-record-highs-as-tiktoks-battle-against-us-ban-continues-after-court-ruling">bid to overturn the ban</a> that President Biden signed in April. The law states that if TikTok's parent company, ByteDance, doesn't divest its ownership to non-Chinese companies, the app will be banned in the U.S.&nbsp;
With the ban date quickly approaching, it has the potential to ripple through the U.S. economy, particularly among the seven million small and medium-sized businesses (SMBs) that use the platform to generate revenue and grow their brands.&nbsp;
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Oxford Economics released a report in March 2024 that reveals TikTok&#8217;s impacts on U.S. businesses. In 2023, the platform supported $24.2 billion in the U.S. GDP, including $15 billion in revenue generated by <a href="https://www.benzinga.com/startups/24/12/42369492/how-a-teen-coder-built-a-payments-empire-local-businesses-took-a-chance-on-me-now-we-processed-4-billion-in-2023">small businesses</a> through organic reach and TikTok's paid advertising. According to the report, TikTok has also facilitated 224,000 American jobs and contributed $5.3 billion in taxes.
In an article from TikTok Newsroom, Blake Chandlee, TikTok's President of Global Business Solutions, expressed the importance of the platform. &#8220;Businesses across America depend on TikTok's unique ability to help them reach otherwise unreachable customers, generate new revenue streams and drive awareness of their brands, products and services."
According to Oxford Economics, the food and beverage, health and wellness and business service sectors particularly relied on TikTok, collectively contributing billions to the GDP.&nbsp;
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Small business owners in diverse industries express that TikTok has transformed their businesses. Felicia Jackson, owner of CPR Wrap, stated that TikTok has driven over $300,000 in sales in just two days, saving her company. "It's amazing," she told TikTok Newsroom. "And best yet, two lives have been saved using our product because they saw it and bought it off TikTok."
Similarly, Desiree Hill, a mobile mechanic, attributed her rapid business expansion – including leasing a 9,000-square-foot shop and hiring five employees – to her success on TikTok.
The ban poses existential challenges for creators like Shira, a 27-year-old who relies on TikTok partnerships for her livelihood. Shira told BBC that she has spent many years growing and developing a dedicated audience and that TikTok brings in the most money of all the platforms she uses.&nbsp;
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&#8220;I&#8217;m not sure what all these people are going to do if the ban goes through,&#8221; says Shira. &#8220;There is no unemployment for creators or fallbacks.&#8221;
Kristen Schiele, a clinical marketing professor at USC, told BBC that businesses targeting Gen Z – a demographic particularly active on TikTok – may struggle to reach similar audiences elsewhere. She also noted that international brands may find it more difficult to reach U.S. audiences.&nbsp;
&#8220;There&#8217;s a lot of cosmetic brands and skin care brands coming from Korea, especially and China," Schiele said. "That&#8217;s a big thing [on TikTok] right now … those different beauty regimens and the great skin care products that they have.&#8221;
TikTok CEO Shou Zi Chew has described the ban as a violation of free expression. In an April video, he stated, "This is a ban, a ban on TikTok and a ban on your voice."&nbsp;
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The impact of the TikTok Ban could be <a href="https://www.benzinga.com/news/24/03/37688964/tiktok-ban-could-take-out-billions-of-dollars-out-of-creators-pockets-and-put-over-300k-american-job">catastrophic for millions of users and businesses</a>. According to TikTok Newsroom, small businesses using TikTok as a marketing tool stand to lose over $1 billion in revenue in just one month if the ban goes into effect. In comparison, creators could see nearly $300 million in earnings disappear. These numbers represent the livelihoods and communities TikTok creators have built.
On Dec. 9, <a href="https://newsroom.tiktok.com/en-us/tiktok-files-emergency-motion-for-injunction">TikTok announced that it had taken legal action, filing an emergency motion for an injunction</a> to delay the ban while the U.S. Supreme Court reviews the case. TikTok has reiterated its commitment to safeguarding its 170 million U.S.-based users and preserving the opportunities it creates for businesses, creators and the economy at large.
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